Pay-Fone Profits Down for Year, Up 84% for Quarter
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Pay-Fone Systems, a payroll-processing concern in Van Nuys, said its fiscal fourth quarter profit jumped 84% from a year earlier.
In the quarter that ended June 30, Pay-Fone’s net income climbed to $48,734 from $26,449 a year earlier, while its revenue edged up 1% to $1.46 million from $1.44 million.
Despite the fourth-quarter improvement, Pay-Fone’s earnings for the full fiscal year were down 60%, to $37,972 from $95,653 the previous year. Its annual revenue slipped 2% to $6.02 million from $6.11 million.
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